Federal Reserve Board
4.2 of 5 50 reviews
www.federalreserve.gov Washington, DC 1000 to 5000 Employees

Federal Reserve Board Reviews

All Employees Current Employees Only

4.2 50 reviews

                             

100% Approve of the CEO

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Janet L. Yellen

(8 ratings)

90% of employees recommend this company to a friend
3 Employee Reviews Back to all reviews
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    • Culture & Values
           
    • Work/Life Balance
           
    • Senior Management
           
    • Comp & Benefits
           
    • Career Opportunities
           
    • Disapproves of CEO

    2 people found this helpful  

    Beware

    Financial Analyst (Current Employee)
    Washington, DC

    ProsPrestige (for what it's worth), adjacent to National Mall, OK cafeteria, annual leave, insurance (health, dental, vision), raises available (but if you are not one of the 20% "high performers", you will tread water economically with low raises with 70% of the staff at the "commendable" (nice way of saying average) level.)

    ConsPerformance evaluations (that is, the dreadful so-called PMP) use the forced distribution, or "rank and yank" method. Google it; forewarned is forearmed. A set percentage are given bad reviews, with encouragement to quit. The internal webpage shows no one gets below commendable; do not believe it. The entire performance evaluation system is a true insult to workers who bravely try to meet impossible-to-satisfy expectations. Again, my fellow human beings--beware.

    [To employees (current and future): As low-level managers will be taking notes for the PMP on computer, you must make sure to ask for a copy of any managerial documentation with your name on it. If denied, make note of the denial. Also, take assignments, do well on them, write a success list (for your own eyes only) so that you can update your resume and leave at will. Your heart, soul, and mind will thank you when you leave the building for the last time.]

    Resistance to necessary change. Just because it worked in 1970 does not mean the exact practice must continue in the Internet era.

    Excessive division between PHD and non-PHD staff. PHD staff advances; the rest languish.

    Advice to Senior ManagementComplete transparency (that is, sunshine) should be standard operating procedure. Employees have a right to know if managers are making adverse decisions about their careers behind closed doors with a outside facilitator.

    Forced distribution ultimately will cause systemic failure, requiring congressional attention to fix the mess.

    No, I would not recommend this company to a friend

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    • Culture & Values
           
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    1 person found this helpful  

    Incompetent and lazy colleagues + bully managers

    Anonymous Employee (Former Employee)

    ProsIf you like not doing real work, you can get by. This one guy in our department shipped 2 lines of code in a whole quarter. 2 LINES! And he didn't get fired.

    Of course, this is really a con if... you know... you like providing value.

    ConsAlmost every employee at the Board is either lazy or incompetent. Examples of laziness:

    1. Taking a two hour lunch break PLUS 1 hour coffee break consistently every day.
    2. Promising that your work is done, but not being anywhere really close.
    3. Taking months long vacations.

    Examples of incompetence:

    1. Shipping 2 lines of code in a whole quarter!
    2. Managers not really managing, just playing the political game of looking good. My manager would say anything, even say "Oh the project is going soooo well!". Total bs.

    Examples of bullying:

    This one lady we work with shouts at our daily standup EVERY SINGLE DAY. SERIOUSLY?

    Advice to Senior ManagementI have no real advice for you, because you'd never follow it anyway. You're too concerned with looking good, playing nice to your own managers, and waiting for retirement. You need to fire slackers and the incompetents, but you'd never do anything to rock the boat.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    5 people found this helpful  

    Soul crushing . . .

    Anonymous Employee (Current Employee)
    Washington, DC

    ProsThe Federal Reserve Board is quasi-government, which, among other things, means that they don't automatically adopt policies set by Congress or the President. It also has good benefits and amenities (gym, parking by lottery, etc.).

    ConsUnless you like posturing (rather than working) to get ahead, lots of bureaucracy, meeting about meetings, and occupying yourself with busy work that's only loosely related to what should be done, this isn't the place to be. The Board is very divided. Duplication of efforts is commonplace where interpersonal issues can't or won't be overcome. The fractures within the organization can make it difficult if not impossible to transfer to other divisions or units. This is a very political environment.

    Advice to Senior ManagementI don't even know where you'd begin.

    No, I would not recommend this company to a friend

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